FDI up 70% in west

Foreign direct investment (FDI) into Western China is projected to top US$3 billion by yearend, a year-on-year increase of 70%, the Office for Western Region Development of the State Council said. Compared with previous years, 2004 was proving an exceptional year, an official said ahead of this week's two-day Western Forum of China 2004. He said a deal with Intel Corp was one of 18 investments recently signed, adding US$2bn to the year's FDI intake.